AN ORDINANCE GRANTING A FIVE (5) YEAR TAX ABATEMENT/EXEMPTION, FOR A PROJECT CONSISTING OF TWO-FAMILY NEW CONSTRUCTION, ON REAL PROPERTY KNOWN AS 349 ELM STREET, MORE SPECIFICALLY IDENTIFIED ON THE OFFICIAL TAX MAP OF THE CITY OF NEWARK, AS BLOCK 1980, LOT 21.02. (EAST WARD)